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FINANCIAL NEWS
Bahrain’s Gulf Air to trim down operations
26 Jan 2012
(MENAFN) Gulf Air’s CEO, Samer Majali, said that the carrier would reduce operations and ask for cash from government funds, reported Arab News.
Majali added that the move came as Bahrain’s national carrier was hit with a decline in passenger numbers as the country witnessed anti-government protests that kept visitors away.
The company’s decision came following local reports that the government was thinking about dissolving or downsizing the carrier, or selling it and creating a new airline at a cost of USD1.22 billion.
It is worth noting that Gulf Air’s plan to slash operations would only affect the network and the fleet, and it wouldn’t affect staff numbers, according to the CEO.
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